Yuba City, Tax Attorney
Tax laws permeate every aspect of our society. For example, if you need to operate a business, you should be aware of your tax liability. Individual workers are also responsible for ensuring they manage their taxes correctly. Failing to adhere to tax laws can lead to a wide range of legal issues for any taxpayer. If you need an attorney to manage your tax situation, you should consult with an experienced Yuba City tax attorney as soon as possible.
At the NewPoint Law Group, LLP, our skilled tax attorneys have offered their services to clients in various industries. Interpreting the tax code can be a difficult task, and our firm is here to help alleviate your concerns. You do not have to handle your tax issues alone. To schedule a confidential consultation to discuss your tax liability, contact the NewPoint Law Group, LLPat 800-358-0305. You may also reach us online.
Common Tax Law Matters Our Firm Handles in Yuba City, CA
Tax law encompasses a vast range of rules that can affect various facets of a person’s life and multiple aspects of a business. Understanding tax law regulations in Yuba City, CA can be complicated because rules can be revised and changed as the years pass. Fortunately, our legal team has experience with a wide range of tax law matters, and we can help resolve your tax law issue.
The following is a list of common tax law issues that our firm can manage for you.
Tax Liens and Levies
A tax lien is a process where the Internal Revenue Service (IRS) places a lien on the property that a taxpayer owns. The reason for a tax lien is because a taxpayer failed to timely pay their taxes. If a taxpayer has an especially large tax bill, the IRS may issue a public notice of the lien to all your creditors. As a result, the taxpayer’s ability to secure loans and other meet financial needs will be severely diminished.
The only way for the taxpayer to remove the lien is to pay off the full amount of the tax debt. Once this happens, the IRS will remove the tax lien from the taxpayer’s property within 30 days of the date the debt was paid.
If a Yuba City taxpayer continues to ignore the tax lien and warnings by the IRS, the IRS may issue a tax levy instead. Tax levies allow the IRS to seize all property named in the lien to pay off the taxpayer’s debt. This can be devastating for a business that could lose valuable property that will not be easy to replace.
It is important to note that the IRS would rather avoid going to these measures to recover tax debt. This means that a taxpayer could usually negotiate with the IRS to handle the tax debt. The NewPoint Law Group, LLP is here to assist you in avoiding the burden of a tax lien or levy.
Tax Return Planning
Tax return planning can have many benefits for a taxpayer is done correctly. Taxpayers should be aware of specific methods of tax reporting that may help them avoid excessive tax fees and could bestow a taxpayer with credits and other deductions.
Our firm can help you develop a tax return plan that coincides with your unique goals. For example, if you wish to minimize tax liability for your company, we can help you explore your legal options. Do not hesitate to contact one of our experienced tax law attorneys to discuss your tax return planning goals.
A tax audit is a process that can make many business owners worry. There is a wide range of reasons that a tax audit may be initiated. For example, if a business is operating at a loss for several years, the IRS may begin a tax audit to determine how a taxpayer is reporting their income.
You have no reason to fear a tax audit. Under many circumstances, a tax audit is performed to correct a discrepancy with a taxpayer’s return. Our firm can help you prepare for a tax audit by the IRS or another tax board.
Cryptocurrency Tax Law Issues
The rise of cryptocurrency has also caused a number of tax issues concerning the reporting of income made from cryptocurrency. Cryptocurrency is considered a form of property holding because it does not meet the definition of cash. As a result, having a stake in cryptocurrencies like Bitcoin or Ethereum will subject a taxpayer to capital gains tax.
If you are unsure about the regulations surrounding an investment in cryptocurrency, our firm can help you manage your tax issues.
The NewPoint Law Group, LLP has broad experience with many other types of tax matters that are not discussed above. Our Yuba City, CA tax lawyers and legal team welcomes the opportunity to work with you to meet your unique tax goals. Do not hesitate to contact us to discuss your tax law claim.
Speak with Our Experienced Yuba City, CA Tax Lawyers to Discuss Your Case
If your business needs assistance handling a tax matter, you should contact an experienced Yuba City tax lawyer as soon as possible. The legal team at the NewPoint Law Group, LLP possesses extensive experience litigating tax matters for clients in California, and we would welcome the opportunity to work with you. To schedule a confidential consultation to discuss your legal claim, contact the NewPoint Law Group, LLP at 800-358-0305. Our firm is also available online.